Spanish cement maker Molins acquires Zenet to expand industrialized construction

Spanish Cement producer Molins has acquired a majority stake in precast concrete manufacturer Zenet to expand its industrialized construction footprint in Europe, the company said in a statement Jan. 22.

Molins acquired 90% of Zenet, a Spanish manufacturer of reinforced and prestressed precast concrete components based in Escalonilla, Toledo, in southern Spain. The deal will enable Molins to meet strong demand for industrialized housing construction in central Spain, according to the statement.

"The acquisition of Zenet marks a significant milestone in our strategy to scale industrialised construction solutions," Higini Alfageme, executive vice president of Molins' precast business, said, adding that the transaction strengthens Molins' production capacity through the integration of a highly specialized team and a company built on strong operational discipline and a long-term vision.

According to the statement, Zenet has a monthly production capacity of around 45,000 square meters. The company supplies precast solutions for residential, industrial and civil engineering projects, with a product portfolio that includes hollow-core slabs.

The acquisition is Molins' third move into the precast market in recent months, following the purchase of Concremat in Portugal and Baupartner in southeast Europe, the company added.

Platts, part of S&P Global Energy, last assessed CEMDEX Turkey at $53.5/mt FOB on Jan. 22.